I sold the Impala to a family friend this past weekend, so I casually started hunting for a new "backup" vehicle. Now that it's nice out I'll be driving the Volt again, however I like having a second vehicle around just in case, and something I can use for a winter beater when the time comes. I came across a 1995 Lexus LS400 locally, 223k miles on it. It's VERY clean for the miles and the year, it had to have been used by a salesman or territory manager of some kind. It's not perfect by any stretch of the imagination, but I'd say the interior is an 8/10, the exterior is a 6.5-7/10, and the rust factor/under carriage is a 5/10. There's no major rot, but there is cancer and some holes underneath in non-critical areas. Quick list of issues I saw: Converted to electric fan, I didn't look too close but someone added wiring and a relay under the hood. P/S noisy as could be. It has a new pump and pressure hose on it Oil leaks galore, degrease and go from there. Valve cover gaskets, for sure A/C was not cold Heat blew cold at idle, nice and hot at 1500+ The ABS light is on, Trac Off light flashing, and I heard what I thought was a really cranky ABS pump at startup. The physical brakes felt fine on a short drive. The timing belt was done at 143k, so it's due. It looked like it had newer plug wires on it. Someone removed the rear mini-mufflers and put straight pipes in. Nicely done, but they need hangers welded up. Someone added a bunch of Megan Racing pieces to the rear end, all adjustable. I'm not sure how I feel about those, I don't care for adjustable aftermarket equipment unless it's warranted. He's asking $1,999, which is completely unreasonable given it's condition. He's got an odd sense that any old LS400 is worth big money, which this one certainly isn't. That being said, I have no issue with a little project, that's the whole point of a second car. I don't need it to be perfect, but it does have to be reliable. SO! That being said, what would you offer? I'm normally pretty good at deciding what to offer, but I'm stuck here between insulting the guy and losing my shirt. I know I'm never going to make money on it, and that's fine, but I don't want to lose any either. Would $1k even be an insult? The owner has 3 other vehicles: one is a CL600 twin-turbo V12 that he just had both coil packs and plugs done on and one is a new Cadillac XTS, so I don't think he's hurting for money. He seems to have an odd attachment to the Lex, though. Apparently this is the second time he's owned the same car. I'd at most be comfortable putting $1,200 towards it, assuming I'll have to put $3-400 in it plus my time. It'll never be a $2k car, ever, in my opinion. I'm going to sleep on it tonight and see how I feel tomorrow, part of me is hoping it sells so I don't buy another toy.